January 28, 2026
Monetary Policy Report—January 2026—Global economy
Global growth is expected to remain solid, supported by the boom in investment in artificial intelligence and by fiscal stimulus in several major economies.
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January 28, 2026
Monetary Policy Report—January 2026
The Canadian economy continues to adjust to US tariffs and the new global trade landscape. This adjustment will take time and growth is expected to be modest. Inflation is projected to remain near the 2% target. -
January 28, 2026
Monetary Policy Report—January 2026—Projections
The outlook for the Canadian economy is evolving largely as anticipated. Economic growth is expected to average around 1¼% over the projection horizon, and inflation remains near 2%. -
January 28, 2026
Monetary Policy Report—January 2026—Risks
With geopolitical uncertainty elevated and Canada’s trade agreement with the United States and Mexico under review, risks around the outlook are unusually high. -
January 28, 2026
Monetary Policy Report Press Conference Opening Statement
Governor Tiff Macklem discusses the Monetary Policy Report and the key issues involved in the Governing Council’s deliberations about the monetary policy decision. -
January 28, 2026
Monetary Policy Report—January 2026—Canadian economy—Tariff and other assumptions
US tariffs remain elevated. The future of trade in North America continues to be highly uncertain. -
January 28, 2026
Monetary Policy Report—January 2026—In focus—How Canadian businesses are adapting to US tariffs
Canadian businesses continue their efforts to expand exports to countries other than the United States. Trade tensions are also leading Canadian businesses to rely less on US imports. -
January 28, 2026
Monetary Policy Report—January 2026—In focus—The review of the Canada–United States–Mexico Agreement
The future of Canada’s trade agreement with the United States and Mexico is unclear. A review of the agreement could lead to many possible outcomes, and these can have a wide range of impacts on the Canadian economy. -
January 19, 2026
How to complete an annual report: A step-by-step guide
This guide explains the questions you will need to answer in PSP Connect and helps identify the documents and information needed to complete and submit an annual report to the Bank of Canada. You are required to submit your completed annual report form to the Bank by March 31 each year. -
January 19, 2026
Canadian Survey of Consumer Expectations—Fourth Quarter of 2025
Results of the fourth-quarter 2025 survey show that concerns over high prices and economic uncertainty related to the trade conflict continue to have a negative impact on consumers. As a result, even though labour market conditions improved somewhat, the CSCE indicator declined slightly. Expectations for near-term inflation remain higher than they were before the pandemic, while those for long-term inflation eased below pre-pandemic levels.